Newell Brands (NASDAQ: NWL) reported Q1 EPS of $0.30, $0.17 better than the analyst estimate of $0.13. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.07 billion.

"2021 is off to a terrific start, as top line increased 21 percent, normalized operating profit doubled and earnings per share tripled year-over-year during the first quarter, building on the momentum from the back half of 2020. Each of our business units and geographic regions delivered significant sales growth, fueled by consumption, as our supply chain teams operated with excellence and successfully managed broad-based demand surges,” said Ravi Saligram, Newell Brands President and CEO. “We are still in the early stages of realizing the full potential of our business and see tremendous opportunity for value creation through focused execution of our strategic priorities, including sustaining top line growth, strengthening our brands through insights and innovation, driving omni-channel prowess, unlocking international potential, and expanding distribution, while serving as a force for good in the world."

Chris Peterson, Chief Financial Officer and President, Business Operations, said, “Significant out-performance on top line, in combination with productivity gains and operating leverage, drove outstanding results in the first quarter. We made further progress on deleveraging and reducing our cash conversion cycle relative to year-ago levels. Much stronger than anticipated results thus far in 2021 give us confidence to raise our outlook for the full year both on top and bottom lines, despite additional inflationary pressures. We currently forecast core sales growth of 5 to 7 percent and normalized earnings per share of $1.63 to $1.73 for full year 2021.”

GUIDANCE:

Newell Brands sees Q2 2021 EPS of $0.41-$0.45, versus the consensus of $0.41. Newell Brands sees Q2 2021 revenue of $2.5-2.58 billion, versus the consensus of $2.38 billion.

Newell Brands sees FY2021 EPS of $1.63-$1.73, versus the consensus of $1.64. Newell Brands sees FY2021 revenue of $9.9-10.1 billion, versus the consensus of $9.69 billion.

For earnings history and earnings-related data on Newell Brands (NWL) click here.